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Reply to "Explain to me why it's a bad idea to borrow against your 401k?"
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[quote=Anonymous][quote=TheManWithAUsername][quote=Anonymous]Don't you pay a penalty and tax to withdraw from your 401k In most cases? So you'd have to factor that when doing the math.[/quote] Not to borrow against it, but employers don't have to allow you to borrow against it.[/quote] I assumed if you borrowed against it you had to pay a penalty - or is it just that you have to pax the taxes on it (obviously) but no extra penalties...?[/quote]
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